some news for tormin

Zircon project selects new BEE partner



ASX-listed Mineral Resources Commodities (MRC) has settled the matter of selecting a new black economic-empowerment (BEE) partner and is awaiting comment from the Department of Minerals and Energy (DME) on the matter.

MRC’s GM for South Africa, John Barnes, tells Mining Weekly that the mining rights for the Tormin mineral sands project will be implemented after final comment from the DME.

This follows after the company reviewed its options with regard to its BEE partner for the Tormin project, owing to the failure of its existing partner to meet its contractual and funding obligation.
The company’s South African subsidiary, Mineral Sands Resources, was granted the mining rights for the project near Lutzville, in the Northern Cape, from the DME in March this year.

The company signed the mining rights on April 25, 2008, along with the environmental management plan (EMP), which was when the mining rights became effective.

“It is intended that final engineering will be completed so that financial close on the project will occur within six months, with production likely to begin in the first half of 2009,” says Barnes.

Full article at:
http://www.miningweekly.com/article.php?a_id=135930